Ameren (AEE)
Market Price (10/31/2026): $110.53 | Market Cap: $30.6 BilSector: Utilities | Industry: Multi-Utilities
Ameren (AEE)
Market Price (10/31/2026): $110.53Market Cap: $30.6 BilSector: UtilitiesIndustry: Multi-Utilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, Dividend Yield is 2.6% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, CFO LTM is 3.3 Bil Low stock price volatilityVol 12M is 18% Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, Renewable Energy Transition, and Water Infrastructure. Themes include Grid Automation, Show more. | Weak multi-year price returns2Y Excs Rtn is 0.0%, 3Y Excs Rtn is -27% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 71% Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.8% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% Key risksAEE key risks include [1] regulatory pushback, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.7%, Dividend Yield is 2.6% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, CFO LTM is 3.3 Bil |
| Low stock price volatilityVol 12M is 18% |
| Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, Renewable Energy Transition, and Water Infrastructure. Themes include Grid Automation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is 0.0%, 3Y Excs Rtn is -27% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 71% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.8% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -17% |
| Key risksAEE key risks include [1] regulatory pushback, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/16/2026
Ameren (AEE) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Ameren reported a revenue miss for fiscal Q2 2026. The company announced Q2 2026 operating revenue of $2.09 billion on July 30, 2026, which fell 5.8% year-over-year and missed analyst consensus estimates of $2.27 billion. Despite an earnings per share (EPS) beat of $1.13 against an estimated $1.08, the revenue shortfall led to a 1.1% dip in Ameren shares following the announcement.
2. Rising interest rates created macroeconomic headwinds for utility stocks. During fiscal Q3 2026, long-term Treasury yields saw a significant increase, with the 10-year yield climbing from below 4.5% to over 5.2%, reaching its highest level since before the global financial crisis. Additionally, the Federal Reserve raised interest rates in September 2026. These rising rates typically negatively affect capital-intensive utility companies like Ameren by increasing borrowing costs for infrastructure projects and making their dividend yields relatively less attractive compared to safer fixed-income investments.
Show more
Ameren (AEE) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Ameren reported a revenue miss for fiscal Q2 2026. The company announced Q2 2026 operating revenue of $2.09 billion on July 30, 2026, which fell 5.8% year-over-year and missed analyst consensus estimates of $2.27 billion. Despite an earnings per share (EPS) beat of $1.13 against an estimated $1.08, the revenue shortfall led to a 1.1% dip in Ameren shares following the announcement.
2. Rising interest rates created macroeconomic headwinds for utility stocks. During fiscal Q3 2026, long-term Treasury yields saw a significant increase, with the 10-year yield climbing from below 4.5% to over 5.2%, reaching its highest level since before the global financial crisis. Additionally, the Federal Reserve raised interest rates in September 2026. These rising rates typically negatively affect capital-intensive utility companies like Ameren by increasing borrowing costs for infrastructure projects and making their dividend yields relatively less attractive compared to safer fixed-income investments.
Show more
Updated on 10/16/2026
Ameren (AEE) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Ameren reported a revenue miss for fiscal Q2 2026. The company announced Q2 2026 operating revenue of $2.09 billion on July 30, 2026, which fell 5.8% year-over-year and missed analyst consensus estimates of $2.27 billion. Despite an earnings per share (EPS) beat of $1.13 against an estimated $1.08, the revenue shortfall led to a 1.1% dip in Ameren shares following the announcement.
2. Rising interest rates created macroeconomic headwinds for utility stocks. During fiscal Q3 2026, long-term Treasury yields saw a significant increase, with the 10-year yield climbing from below 4.5% to over 5.2%, reaching its highest level since before the global financial crisis. Additionally, the Federal Reserve raised interest rates in September 2026. These rising rates typically negatively affect capital-intensive utility companies like Ameren by increasing borrowing costs for infrastructure projects and making their dividend yields relatively less attractive compared to safer fixed-income investments.
3. The utilities sector experienced a broader market sell-off. In fiscal Q3 2026, the utilities sector was notably the worst-performing sector, moving from an "overvalued territory" at the start of the quarter to experiencing a significant "sell-off". This sector-wide downturn, driven in part by the impact of higher interest rates, contributed to the negative trend for individual utility stocks, including Ameren.
4. Multiple analyst firms downgraded Ameren's price targets. Throughout September and October 2026, several prominent financial analysts reduced their price targets for Ameren. For instance, Mizuho cut its target to $113 from $124 on September 30, and RBC and Morgan Stanley also lowered their targets in September. In October, Truist lowered its price target to $116 from $120, and KeyBanc reduced its target to $116 from $122. These widespread downgrades signaled a more conservative outlook for Ameren's stock performance from expert financial institutions.
Show less
Ameren (AEE) stock has remained largely at the same level since 6/30/2026 because of the following key factors:
1. Ameren reported a revenue miss for fiscal Q2 2026. The company announced Q2 2026 operating revenue of $2.09 billion on July 30, 2026, which fell 5.8% year-over-year and missed analyst consensus estimates of $2.27 billion. Despite an earnings per share (EPS) beat of $1.13 against an estimated $1.08, the revenue shortfall led to a 1.1% dip in Ameren shares following the announcement.
2. Rising interest rates created macroeconomic headwinds for utility stocks. During fiscal Q3 2026, long-term Treasury yields saw a significant increase, with the 10-year yield climbing from below 4.5% to over 5.2%, reaching its highest level since before the global financial crisis. Additionally, the Federal Reserve raised interest rates in September 2026. These rising rates typically negatively affect capital-intensive utility companies like Ameren by increasing borrowing costs for infrastructure projects and making their dividend yields relatively less attractive compared to safer fixed-income investments.
3. The utilities sector experienced a broader market sell-off. In fiscal Q3 2026, the utilities sector was notably the worst-performing sector, moving from an "overvalued territory" at the start of the quarter to experiencing a significant "sell-off". This sector-wide downturn, driven in part by the impact of higher interest rates, contributed to the negative trend for individual utility stocks, including Ameren.
4. Multiple analyst firms downgraded Ameren's price targets. Throughout September and October 2026, several prominent financial analysts reduced their price targets for Ameren. For instance, Mizuho cut its target to $113 from $124 on September 30, and RBC and Morgan Stanley also lowered their targets in September. In October, Truist lowered its price target to $116 from $120, and KeyBanc reduced its target to $116 from $122. These widespread downgrades signaled a more conservative outlook for Ameren's stock performance from expert financial institutions.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -1.5% change in AEE stock from 6/30/2026 to 10/30/2026 was primarily driven by a -3.9% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 112.24 | 110.54 | -1.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,878 | 8,749 | -1.5% |
| Net Income Margin (%) | 17.2% | 17.9% | 4.1% |
| P/E Multiple | 20.4 | 19.6 | -3.9% |
| Shares Outstanding (Mil) | 276 | 277 | -0.1% |
| Cumulative Contribution | -1.5% |
Market Drivers
6/30/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| AEE | -1.5% | |
| Market (SPY) | 1.2% | -8.6% |
| Sector (XLU) | -4.2% | 88.9% |
Fundamental Drivers
The 2.0% change in AEE stock from 3/31/2026 to 10/30/2026 was primarily driven by a 8.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 108.38 | 110.54 | 2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,799 | 8,749 | -0.6% |
| Net Income Margin (%) | 16.5% | 17.9% | 8.0% |
| P/E Multiple | 20.2 | 19.6 | -3.1% |
| Shares Outstanding (Mil) | 271 | 277 | -2.0% |
| Cumulative Contribution | 2.0% |
Market Drivers
3/31/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| AEE | 2.0% | |
| Market (SPY) | 16.5% | -14.1% |
| Sector (XLU) | -4.8% | 86.6% |
Fundamental Drivers
The 8.9% change in AEE stock from 9/30/2025 to 10/30/2026 was primarily driven by a 22.8% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 101.49 | 110.54 | 8.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,432 | 8,749 | 3.8% |
| Net Income Margin (%) | 14.6% | 17.9% | 22.8% |
| P/E Multiple | 22.4 | 19.6 | -12.4% |
| Shares Outstanding (Mil) | 270 | 277 | -2.3% |
| Cumulative Contribution | 8.9% |
Market Drivers
9/30/2025 to 10/30/2026| Return | Correlation | |
|---|---|---|
| AEE | 8.9% | |
| Market (SPY) | 14.4% | -9.1% |
| Sector (XLU) | 1.7% | 82.6% |
Fundamental Drivers
The 61.9% change in AEE stock from 9/30/2023 to 10/30/2026 was primarily driven by a 30.8% change in the company's Net Income Margin (%).| (LTM values as of) | 9302023 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 68.27 | 110.54 | 61.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,174 | 8,749 | 7.0% |
| Net Income Margin (%) | 13.7% | 17.9% | 30.8% |
| P/E Multiple | 16.1 | 19.6 | 21.9% |
| Shares Outstanding (Mil) | 263 | 277 | -5.1% |
| Cumulative Contribution | 61.9% |
Market Drivers
9/30/2023 to 10/30/2026| Return | Correlation | |
|---|---|---|
| AEE | 61.9% | |
| Market (SPY) | 82.9% | 11.2% |
| Sector (XLU) | 60.0% | 79.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AEE Return | 17% | 3% | -16% | 27% | 15% | 13% | 67% |
| Peers Return | 19% | 6% | -6% | 16% | 18% | 12% | 81% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| AEE Win Rate | 50% | 50% | 50% | 50% | 42% | 50% | |
| Peers Win Rate | 55% | 63% | 55% | 58% | 65% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AEE Max Drawdown | -10% | -23% | -20% | -9% | -8% | -16% | |
| Peers Max Drawdown | -11% | -24% | -19% | -12% | -11% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EXC, WEC, DUK, SO, AEP. See AEE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)
How Low Can It Go
| Event | AEE | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -18.5% | -9.5% |
| % Gain to Breakeven | 22.8% | 10.5% |
| Time to Breakeven | 350 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.7% | -24.5% |
| % Gain to Breakeven | 15.9% | 32.4% |
| Time to Breakeven | 41 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.1% | -33.7% |
| % Gain to Breakeven | 39.1% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.2% | -12.2% |
| % Gain to Breakeven | 12.6% | 13.9% |
| Time to Breakeven | 34 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -11.5% | -17.9% |
| % Gain to Breakeven | 13.0% | 21.8% |
| Time to Breakeven | 16 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -11.0% | -15.4% |
| % Gain to Breakeven | 12.4% | 18.2% |
| Time to Breakeven | 72 days | 125 days |
In The Past
Ameren's stock fell -3.1% during the 2025 US Tariff Shock. Such a loss loss requires a 3.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | AEE | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -28.1% | -33.7% |
| % Gain to Breakeven | 39.1% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.4% | -53.4% |
| % Gain to Breakeven | 152.7% | 114.4% |
| Time to Breakeven | 1807 days | 1085 days |
In The Past
Ameren's stock fell -3.1% during the 2025 US Tariff Shock. Such a loss loss requires a 3.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ameren (AEE)
```html
Ameren Corporation (AEE) is a public utility holding company primarily involved in providing essential energy services. The company's core business revolves around rate-regulated electric generation, transmission, and distribution, alongside natural gas distribution and transmission. These regulated operations mean that Ameren's pricing and services are overseen by government authorities, providing a stable business model focused on reliable utility delivery.
Ameren serves residential, commercial, and industrial customers across its primary markets in Missouri and Illinois. The company generates electricity from a diverse mix of sources, including traditional methods such as coal, nuclear, and natural gas, complemented by a growing portfolio of renewable energy sources like hydroelectric, wind, methane gas, and solar. Through its various segments, Ameren ensures the delivery of electricity and natural gas to its customer base, constituting its main products and services.
```AI Analysis | Feedback
The AT&T or Verizon of electricity and natural gas.
AI Analysis | Feedback
- Electric Generation: Producing electricity from various sources including coal, nuclear, natural gas, and renewables.
- Electric Transmission: Operating infrastructure to transport high-voltage electricity over long distances.
- Electric Distribution: Delivering electricity from the transmission grid directly to residential, commercial, and industrial customers.
- Natural Gas Distribution: Providing natural gas supply and delivery to end-use customers.
- Natural Gas Transmission: Operating pipelines for the long-distance transport of natural gas.
AI Analysis | Feedback
```html
Ameren (AEE) primarily sells its services directly to end-users rather than to other companies for resale. Based on the company description, its major customer categories are:
- Residential customers
- Commercial customers
- Industrial customers
AI Analysis | Feedback
null
AI Analysis | Feedback
Martin J. Lyons Jr. - Chairman, President and Chief Executive Officer
Martin J. Lyons Jr. became President and Chief Executive Officer of Ameren Corporation and a member of the Board of Directors on January 1, 2022. He joined Ameren in 2001 as vice president and controller. Throughout his career at Ameren, he has held several senior leadership roles, including serving as chief financial officer for 10 years, president of Ameren Services, and president of Ameren Missouri. Prior to joining Ameren, Mr. Lyons was a partner at PricewaterhouseCoopers LLP.
Leonard P. Singh - Executive Vice President and Chief Financial Officer
Effective January 1, 2026, Leonard P. Singh will assume the role of Executive Vice President and Chief Financial Officer of Ameren Corporation and Chairman and President of Ameren Services. Prior to this, he served as chairman and president of Ameren Illinois. Mr. Singh joined Ameren in 2022 after more than 30 years at Consolidated Edison Company of New York.
Michael L. Moehn - Group President, Ameren Utilities
Effective January 1, 2026, Michael L. Moehn will become Group President of Ameren Utilities, a newly created role where he will oversee all of Ameren's operating utilities. Until this transition, he served as Senior Executive Vice President and Chief Financial Officer of Ameren Corporation and Chairman and President of Ameren Services, as well as interim chairman and president of Ameren Missouri. Mr. Moehn joined Ameren in 2000 and has held numerous leadership roles within the company, including President of Ameren Missouri from 2014 to 2019, and Chief Financial Officer since 2019. Before joining Ameren, he was employed for nine years by PricewaterhouseCoopers LLP, including as Senior Manager.
Mark C. Lindgren - Executive Vice President, Corporate Communications, and Chief Human Resources Officer
Mark C. Lindgren serves as Executive Vice President, Corporate Communications, and Chief Human Resources Officer for Ameren. He joined Ameren Services in 1998 and has held various human resources leadership roles. He was elected Vice President, Human Resources in 2009, Chief Human Resources Officer in 2012, and Senior Vice President, Corporate Communications, and Chief Human Resources Officer in September 2015, before being named Executive Vice President in March 2023.
David M. Feinberg - Executive Vice President, General Counsel and Corporate Secretary
David M. Feinberg was appointed Executive Vice President, General Counsel and Corporate Secretary of Ameren Corporation, effective November 4, 2025. Prior to joining Ameren, Mr. Feinberg most recently served as executive vice president, general counsel and corporate secretary of American Electric Power Company, Inc. (AEP), which he joined in 2011. Before AEP, he held roles including vice president, general counsel and corporate secretary at Allegheny Energy, Inc., and was a partner at the law firm of Jenner & Block.
AI Analysis | Feedback
The key risks for Ameren (AEE) include:
- Regulatory and Legislative Risks: Ameren operates in a heavily regulated environment, and adverse outcomes from regulatory proceedings and appeals in its key jurisdictions, such as Illinois and Missouri, pose a significant risk. Changes in laws, regulations, and policies, as well as the need for timely regulatory approvals for rate adjustments and infrastructure projects, can directly impact the company's financial performance and profitability. For example, a June 2024 order by the Illinois Commerce Commission (ICC) approved a lower multi-year rate plan revenue increase than Ameren had requested.
- Financial Leverage and Rising Interest Rates: Ameren carries a notable debt-to-equity ratio, which can expose it to elevated risk, especially in an environment of rising interest rates. Higher financing costs directly erode net income, with increased interest expense already being cited as a material drag on the company's financial results.
- Environmental Transition Risk and Reliance on Fossil Fuels: Despite Ameren's long-term goal of achieving net-zero carbon emissions by 2045, its near-term generation strategy continues to rely substantially on fossil fuels, including plans to add new natural gas generation capacity by 2030. This continued investment in fossil fuels creates a risk of stranded assets if future climate regulations become more stringent or if the cost of carbon increases more rapidly than projected, potentially undermining its long-term decarbonization targets.
AI Analysis | Feedback
Clear Emerging Threats for Ameren (AEE):
- Accelerating Decentralized Energy Generation and Storage: The increasing affordability and adoption of distributed energy resources, such as rooftop solar panels and behind-the-meter battery storage systems, by residential, commercial, and industrial customers poses a clear threat. As customers generate and store more of their own electricity, their reliance on Ameren's traditional centralized generation and distribution infrastructure diminishes. This trend can lead to reduced electricity sales volumes, impacting revenue and challenging the recovery of fixed infrastructure costs, potentially eroding the traditional utility business model.
- Intensifying Decarbonization Pressures and Regulatory Shifts: Ameren's significant reliance on fossil fuels (coal and natural gas) for electricity generation exposes it to growing regulatory, political, and market pressures for rapid decarbonization. Emerging state and federal policies, including stricter emission standards, carbon pricing mechanisms, and mandates for higher renewable energy penetration, could necessitate substantial capital expenditures for early retirement of existing assets, investment in new clean energy technologies, and extensive grid modernization. This presents a risk of stranded assets, increased compliance costs, and challenges in securing timely regulatory approval for necessary investments, fundamentally altering Ameren's generation portfolio and operational costs.
AI Analysis | Feedback
Ameren (AEE) operates as a public utility holding company primarily within central and eastern Missouri and the southern four-fifths of Illinois. The company's main products and services encompass electric generation, transmission, and distribution, as well as natural gas distribution and transmission. Its addressable markets are specific to these regions within the United States.
For its main products and services, the estimated addressable market sizes are as follows:
- Electric Utility Services (Generation, Transmission, and Distribution):
- Illinois: The total retail sales for electricity in Illinois were approximately 133,226,907 megawatt-hours (MWh) in 2024, with an average retail price of 12.21 cents per kilowatt-hour (kWh). This translates to an estimated market size of approximately $16.26 billion in 2024. Historically, the electric power industry in Illinois has earned between $13 billion and $17 billion annually from retail sales.
- Missouri: The total retail sales for electricity in Missouri were 77,776,034 MWh in 2024, with an average retail price of 11.06 cents per kWh. This indicates an estimated market size of approximately $8.60 billion in 2024.
- Natural Gas Distribution and Transmission Services:
- Illinois: The market size for the Natural Gas Distribution industry in Illinois is projected to be approximately $8.2 billion in 2026.
- Missouri: The market size for the Natural Gas Distribution industry in Missouri is projected to be approximately $2.2 billion in 2026.
AI Analysis | Feedback
```html
Ameren Corporation (AEE) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
- Significant Infrastructure Investments: Ameren has outlined a robust capital expenditure plan of $31.8 billion for 2026 through 2030, representing a 21% increase over its previous plan. These substantial investments are primarily allocated to strengthening and maintaining the electric grid, developing new generation assets (including renewables), and expanding transmission capabilities across its service territories. These investments are crucial for ensuring system reliability and facilitating the energy transition, which allows for increased regulated revenue.
- Rate Base Growth: The extensive infrastructure investments are projected to drive a significant 10.6% compound annual growth in Ameren's rate base from 2025 through 2030. As a regulated utility, Ameren's revenue and earnings are directly tied to its rate base, meaning this expansion will translate into higher allowable returns and, consequently, increased revenue.
- Large Load Electric Service Agreements (ESAs) / Data Center Growth: Ameren has recently secured 2.2 gigawatts of new large load electric service agreements in Missouri, particularly with data centers. While the base plan assumes 1.2 GW of new load by 2030, these executed agreements represent significant upside potential for increased electricity sales and revenue as these large-scale customers come online.
- New Electric Service Rates: New electric service rates implemented by Ameren Missouri, effective June 1, 2025, contribute to revenue growth. Additionally, constructive regulatory outcomes in both Missouri and Illinois support the company's ability to recover costs and earn a fair return on its investments, thereby enhancing future revenue streams.
- General Retail Sales Growth: Beyond the specific large load agreements, Ameren Missouri has also experienced broader weather-normalized retail sales growth, including a 1% overall increase and a 1.5% rise in commercial class sales. This indicates a steady underlying demand from existing and new residential, commercial, and industrial customers, providing a consistent driver of revenue.
AI Analysis | Feedback
Share Issuance
- Ameren issued 1.8 million shares of common stock in 2021, generating proceeds of $148 million.
- In 2025, Ameren announced an underwritten offering of $520 million of its common stock, involving forward sale agreements.
- The company anticipates issuing approximately $600 million in new equity annually to support its significant capital expenditure pipeline.
Capital Expenditures
- Ameren plans a total of $26.3 billion in capital expenditures from 2025 through 2029.
- For the period 2026 through 2030, Ameren's capital expenditure plan totals $31.8 billion, representing a 21% increase over the previous year's plan, with a primary focus on generation, transmission, and grid modernization projects.
- In 2025, the company invested more than $4 billion in electric, natural gas, and transmission infrastructure, which also supported over 70 economic development projects, creating 3,728 new jobs and spurring $3.56 billion in capital investment.
Peer Outperformance in Multi-Utilities
AEE has outperformed 53% of its 17 Multi-Utilities peers over 5Y. Among the peers that beat it are NI, PNW and CNP. Multi-Utilities ranks 2nd of 6 industries in Utilities by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Multi-Utilities constituents that AEE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
59%
of 17 industry peers · 10.7% return
3Y
53%
of 17 industry peers · 60.0% return
5Y
53%
of 17 industry peers · 52.0% return
Multi-Utilities peers with revenue growth within 4pp of AEE's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| AEE | Ameren | 3.0% | 19.6x | 10.7% | 60.0% | 52.0% | — |
| NI | NiSource | 7.0% | 22.8x | 9.4% | 93.8% | 112.1% | +60pp |
| PNW | Pinnacle West Capital | 6.9% | 20.1x | 23.3% | 60.4% | 105.1% | +53pp |
| CNP | CenterPoint Energy | 2.3% | 24.3x | 11.6% | 70.4% | 84.9% | +33pp |
| ED | Consolidated Edison | 4.6% | 19.4x | 22.7% | 47.1% | 83.9% | +32pp |
| OGE | OGE Energy | 6.5% | 18.5x | 15.4% | 63.4% | 79.3% | +27pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Utilities sector, ranked by 5Y. Multi-Utilities is AEE's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Independent Power Producers & Energy Traders | 5 | -43.8% | 112.3% | 148.5% | NRG 172% · OKLO 149% · TAC 26% |
| Multi-Utilities ← | 18 | 7.4% | 58.5% | 51.7% | NI 112% · PNW 105% · MDU 100% |
| Electric Utilities | 24 | 5.8% | 54.4% | 50.3% | VST 670% · ETR 157% · AEP 84% |
| Gas Utilities | 10 | 8.1% | 67.7% | 49.3% | ATO 112% · SR 74% · NJR 69% |
| Water Utilities | 11 | 7.9% | 4.6% | -7.7% | WTRG 9% · AWR 6% · HTO 3% |
| Renewable Electricity | 6 | -72.1% | -67.0% | -86.8% | ORA 28% · CWEN 18% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Ameren stock vs Dominion Energy stock: Which Is A Better Investment? | 08/05/2026 | |
| Beyond the Breakout: What Ameren Stock Actually Offers Your Portfolio | 06/11/2026 | |
| Ameren Stock 9-Day Winning Spree: Stock Climbs 5.3% | 04/03/2026 | |
| Ameren Earnings Notes | 12/29/2026 | |
| How Low Can Ameren Stock Really Go? | 10/17/2025 | |
| Ameren vs Chesapeake Utilities: Which Is A Better Investment? | 08/18/2025 | |
| How Does Ameren Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Better Bet Than AEE Stock: Pay Less Than Ameren To Get More From ADBE, MMC | 08/12/2025 | |
| ARTICLES | ||
| Mid Cap Stocks Trading At 52-Week High | 09/30/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 113.31 |
| Mkt Cap | 59.6 |
| Rev LTM | 24,776 |
| Op Inc LTM | 5,388 |
| FCF LTM | -2,927 |
| FCF 3Y Avg | -1,777 |
| CFO LTM | 7,114 |
| CFO 3Y Avg | 6,582 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.5% |
| Rev Chg 3Y Avg | 4.4% |
| Rev Chg Q | 5.0% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 5.8% |
| Op Inc Chg 3Y Avg | 12.6% |
| Op Mgn LTM | 24.5% |
| Op Mgn 3Y Avg | 23.9% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 35.0% |
| CFO/Rev 3Y Avg | 34.8% |
| FCF/Rev LTM | -11.8% |
| FCF/Rev 3Y Avg | -6.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 59.6 |
| P/S | 3.3 |
| P/Op Inc | 13.4 |
| P/EBIT | 11.9 |
| P/E | 20.3 |
| P/CFO | 9.4 |
| Total Yield | 7.9% |
| Dividend Yield | 3.1% |
| FCF Yield 3Y Avg | -3.3% |
| D/E | 0.7 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.5% |
| 3M Rtn | 2.4% |
| 6M Rtn | -0.4% |
| 12M Rtn | 6.0% |
| 3Y Rtn | 59.4% |
| 1M Excs Rtn | 11.2% |
| 3M Excs Rtn | 0.8% |
| 6M Excs Rtn | -7.5% |
| 12M Excs Rtn | -6.9% |
| 3Y Excs Rtn | -27.6% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Ameren Missouri | 4,795 | 3,993 | 3,859 | 4,046 | 3,353 |
| Ameren Illinois Electric Distribution | 2,399 | 2,089 | 2,218 | 2,256 | 1,639 |
| Ameren Illinois Natural Gas | 968 | 938 | 897 | 1,180 | 957 |
| Ameren Transmission | 862 | 781 | 677 | 615 | 562 |
| Other | 0 | 0 | 0 | 0 | 0 |
| Intersegment Eliminations | -225 | -178 | -151 | -140 | -117 |
| Total | 8,799 | 7,623 | 7,500 | 7,957 | 6,394 |
| $ Mil | 2001 | 1999 | 1998 |
|---|---|---|---|
| Regulated Utilities | 467 | 384 | 548 |
| All Other | 2 | 1 | 21 |
| Total | 469 | 385 | 569 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Ameren Missouri | 747 | 559 | 545 | 562 | 518 |
| Ameren Transmission | 415 | 323 | 296 | 263 | 230 |
| Ameren Illinois Electric Distribution | 281 | 234 | 258 | 202 | 165 |
| Ameren Illinois Natural Gas | 158 | 149 | 134 | 123 | 108 |
| Intersegment Eliminations | 0 | 0 | 0 | 0 | 0 |
| Other | -145 | -83 | -81 | -76 | -31 |
| Total | 1,456 | 1,182 | 1,152 | 1,074 | 990 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Ameren Missouri | 13,851 | 13,541 | 12,904 | 13,043 | 12,757 |
| Ameren Illinois | 8,903 | 8,381 | 7,454 | 7,282 | 7,213 |
| Other | 1,139 | 942 | 917 | 1,228 | 1,211 |
| Intersegment Eliminations | -267 | -203 | -233 | -1,018 | -1,369 |
| Merchant Generation | 1,300 | 3,833 | |||
| Total | 23,626 | 22,661 | 21,042 | 21,835 | 23,645 |
Price Behavior
Price Behavior
| Market Price | $110.54 | |
| Market Cap ($ Bil) | 30.6 | |
| First Trading Date | 01/02/1998 | |
| Distance from 52W High | -5.9% | |
| 50 Days | 200 Days | |
| DMA Price | $104.21 | $107.28 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 6.1% | 3.0% |
| 3M | 1YR | |
| Volatility | 15.7% | 17.7% |
| Downside Capture | -1.94 | -19.22 |
| Upside Capture | -5.85 | -6.52 |
| Correlation (S&P 500) | -4.8% | -6.7% |
AEE Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 0.16 | 0.01 | -0.16 | -0.09 | 0.15 |
| Up Beta | 0.01 | 0.03 | -0.12 | -0.24 | -0.04 | 0.19 |
| Down Beta | 0.16 | -0.15 | 0.49 | -0.20 | -0.10 | 0.11 |
| Up Capture | 16% | -6% | -29% | -15% | -6% | 5% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 16 | 26 | 58 | 130 | 398 |
| Down Capture | 105% | 85% | 40% | -2% | -16% | 17% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 25 | 37 | 67 | 121 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEE | |
|---|---|---|---|---|
| AEE | 11.2% | 17.7% | 0.44 | - |
| Sector ETF (XLU) | -1.6% | 15.7% | -0.30 | 84.5% |
| Equity (SPY) | 10.9% | 12.8% | 0.52 | -8.8% |
| Gold (GLD) | -2.0% | 28.6% | -0.08 | 1.7% |
| Commodities (DBC) | 48.2% | 20.6% | 1.79 | -13.6% |
| Real Estate (VNQ) | 10.2% | 13.7% | 0.45 | 58.4% |
| Bitcoin (BTCUSD) | -30.3% | 43.5% | -0.71 | -7.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEE | |
|---|---|---|---|---|
| AEE | 8.5% | 19.4% | 0.32 | - |
| Sector ETF (XLU) | 8.3% | 17.4% | 0.32 | 85.5% |
| Equity (SPY) | 12.2% | 17.1% | 0.53 | 28.0% |
| Gold (GLD) | 16.2% | 19.0% | 0.68 | 14.2% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | 4.3% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 57.3% |
| Bitcoin (BTCUSD) | 4.8% | 51.6% | 0.28 | 6.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEE | |
|---|---|---|---|---|
| AEE | 11.7% | 21.9% | 0.48 | - |
| Sector ETF (XLU) | 9.4% | 19.3% | 0.41 | 88.4% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 42.5% |
| Gold (GLD) | 11.4% | 16.5% | 0.56 | 12.8% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 8.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.21 | 63.3% |
| Bitcoin (BTCUSD) | 61.7% | 66.2% | 1.01 | 6.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 0.8% | -0.4% | -2.4% |
| 5/5/2026 | -1.8% | -1.9% | -4.2% |
| 2/11/2026 | 3.1% | 3.6% | 6.4% |
| 11/5/2025 | 0.7% | 4.4% | -1.9% |
| 7/31/2025 | 1.0% | 1.2% | -1.3% |
| 5/1/2025 | 1.4% | -0.4% | -1.0% |
| 2/13/2025 | -0.2% | 0.3% | 3.2% |
| 11/6/2024 | -1.4% | 4.1% | 4.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 13 |
| # Negative | 12 | 12 | 11 |
| Median Positive | 0.8% | 1.9% | 2.3% |
| Median Negative | -1.5% | -1.2% | -2.0% |
| Max Positive | 3.1% | 5.1% | 8.6% |
| Max Negative | -2.9% | -4.0% | -8.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 0.8% | -0.4% | -2.4% |
| 5/5/2026 | -1.8% | -1.9% | -4.2% |
| 2/11/2026 | 3.1% | 3.6% | 6.4% |
| 11/5/2025 | 0.7% | 4.4% | -1.9% |
| 7/31/2025 | 1.0% | 1.2% | -1.3% |
| 5/1/2025 | 1.4% | -0.4% | -1.0% |
| 2/13/2025 | -0.2% | 0.3% | 3.2% |
| 11/6/2024 | -1.4% | 4.1% | 4.6% |
| 8/1/2024 | 1.6% | -1.3% | 1.5% |
| 5/2/2024 | -1.5% | -0.6% | -2.0% |
| 2/22/2024 | 1.1% | 0.5% | 2.2% |
| 11/8/2023 | -1.9% | 0.1% | 0.6% |
| 8/2/2023 | -1.7% | -4.0% | -6.1% |
| 5/4/2023 | 0.8% | -1.0% | -8.7% |
| 2/15/2023 | 0.0% | -1.0% | -0.2% |
| 11/3/2022 | -0.1% | 5.1% | 7.5% |
| 8/4/2022 | -0.3% | 2.7% | 1.5% |
| 5/5/2022 | -0.6% | -0.7% | -0.1% |
| 2/17/2022 | 0.2% | 1.8% | 6.6% |
| 11/3/2021 | 0.2% | 0.3% | 1.0% |
| 8/5/2021 | 0.8% | 2.1% | 2.3% |
| 5/10/2021 | -2.9% | -2.8% | 0.1% |
| 2/19/2021 | -1.8% | -2.8% | 8.6% |
| 11/4/2020 | -1.2% | -1.3% | -7.6% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 13 |
| # Negative | 12 | 12 | 11 |
| Median Positive | 0.8% | 1.9% | 2.3% |
| Median Negative | -1.5% | -1.2% | -2.0% |
| Max Positive | 3.1% | 5.1% | 8.6% |
| Max Negative | -2.9% | -4.0% | -8.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/03/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/03/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/18/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS | Reported | 5.25 | 5.35 | 5.45 | 0.0% | Affirmed | Guidance: 5.35 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS | Reported | 5.25 | 5.35 | 5.45 | Affirmed | Guidance: 5.35 for 2026 | ||
Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS | Reported | 5.25 | 5.35 | 5.45 | 0 | Affirmed | Guidance: 5.35 for 2026 | |
| 2030 Rate Base Growth | Reported | 10.6% | ||||||
| 2030 EPS Growth | Reported | 6.0% | 7.0% | 8.0% | ||||
| 2030 Capital Expenditures | Reported | 31.80 Bil | ||||||
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 GAAP EPS | Reported | 5.08 | 5.18 | 5.28 | 4.6% | Raised | Guidance: 4.95 for 2025 | |
| 2025 Adjusted EPS | Reported | 4.9 | 5 | 5.1 | 1.0% | Raised | Guidance: 4.95 for 2025 | |
| 2026 Diluted EPS | Reported | 5.25 | 5.35 | 5.45 | ||||
Insider Activity
Updated 9/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Flores, Rafael | Direct | Sell | 9142026 | 105.53 | 248 | 26,171 | 1,465,601 | Form | |
| 2 | Martin, Ryan J | SVP Finance | Direct | Sell | 8202026 | 109.88 | 500 | 54,940 | 2,812,379 | Form |
| 3 | Martin, Ryan J | SVP Finance | Direct | Sell | 8202026 | 109.87 | 471 | 51,749 | 2,857,499 | Form |
| 4 | Shaw, Theresa A | SVP and CATO | Direct | Sell | 8172026 | 108.93 | 325 | 35,402 | 3,522,796 | Form |
| 5 | Moehn, Michael L | Group President, Utilities | Direct | Sell | 8052026 | 108.96 | 6,500 | 708,240 | 21,758,113 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Flores, Rafael | Direct | Sell | 9142026 | 105.53 | 248 | 26,171 | 1,465,601 | Form | |
| 2 | Martin, Ryan J | SVP Finance | Direct | Sell | 8202026 | 109.88 | 500 | 54,940 | 2,812,379 | Form |
| 3 | Martin, Ryan J | SVP Finance | Direct | Sell | 8202026 | 109.87 | 471 | 51,749 | 2,857,499 | Form |
| 4 | Shaw, Theresa A | SVP and CATO | Direct | Sell | 8172026 | 108.93 | 325 | 35,402 | 3,522,796 | Form |
| 5 | Moehn, Michael L | Group President, Utilities | Direct | Sell | 8052026 | 108.96 | 6,500 | 708,240 | 21,758,113 | Form |
| 6 | Shaw, Theresa A | SVP and CATO | Direct | Sell | 5142026 | 109.08 | 325 | 35,451 | 3,557,971 | Form |
| 7 | Shaw, Theresa A | SVP and CATO | Direct | Sell | 5142026 | 109.35 | 1,500 | 164,025 | 3,602,317 | Form |
| 8 | Moehn, Michael L | Group President, Utilities | Direct | Sell | 5052026 | 113.63 | 6,500 | 738,595 | 23,362,101 | Form |
| 9 | Martin, Ryan J | SVP Finance | Direct | Sell | 3062026 | 113.31 | 1,300 | 147,303 | 3,000,335 | Form |
| 10 | Lyons, Martin J | Chairman, President & CEO | Direct | Sell | 3032026 | 111.84 | 26,818 | 2,999,325 | 31,615,043 | Form |
| 11 | Schukar, Shawn E | Direct | Sell | 3032026 | 111.84 | 4,975 | 556,404 | 6,355,867 | Form | |
| 12 | Lindgren, Mark C | Direct | Sell | 3032026 | 111.84 | 2,073 | 231,844 | 5,030,899 | Form | |
| 13 | Flores, Rafael | Direct | Sell | 2192026 | 111.52 | 1,600 | 178,432 | 1,556,039 | Form | |
| 14 | Arora, Ajay K | SVP of Subsidiary | family trust | Sell | 2192026 | 111.44 | 3,000 | 334,320 | 2,344,363 | Form |
| 15 | Shaw, Theresa A | SVP and CATO | Direct | Sell | 2192026 | 111.89 | 325 | 36,364 | 3,993,690 | Form |
| 16 | Mizell, Gwendolyn G | Direct | Sell | 2192026 | 110.90 | 3,548 | 393,473 | 805,910 | Form | |
| 17 | Moehn, Michael L | Group President, Utilities | Direct | Sell | 2042026 | 103.60 | 6,500 | 673,400 | 20,002,674 | Form |
| 18 | Flores, Rafael | Direct | Sell | 11182025 | 105.21 | 225 | 23,672 | 1,491,141 | Form | |
| 19 | Smith, Patrick E | SVP of Subsidiary | Direct | Sell | 11182025 | 104.80 | 2,404 | 251,939 | 1,580,070 | Form |
| 20 | Shaw, Theresa A | SVP, Finance and CAO | Direct | Sell | 11182025 | 104.77 | 325 | 34,050 | 3,451,333 | Form |
| 21 | Harshman, Richard J | Direct | Sell | 11182025 | 104.90 | 2,500 | 262,250 | 2,137,652 | Form | |
| 22 | Moehn, Michael L | Sr Executive VP & CFO | Direct | Sell | 11042025 | 101.44 | 6,500 | 659,360 | 20,183,821 | Form |
| 23 | Lindgren, Mark C | Direct | Sell | 9152025 | 100.89 | 3,500 | 353,115 | 4,295,291 | Form | |
| 24 | Mizell, Gwendolyn G | Direct | Sell | 9042025 | 99.50 | 1,500 | 149,250 | 759,086 | Form |
Investor Activity (13F)
Updated Oct 31, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Utilities Resources |
| Data.gov Energy Infrastructure |
| Data.gov Energy Resources |
| Utility Dive |
| Multi-Utilities Resources |
| Public Utilities Fortnightly |
| Power Magazine |
| Energy Central |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 10/30/2026